RogerRossmeisl
MAY 4, 2025
Suppose youre thinking about setting up a retirement plan for yourself and your employees. However, youre concerned about the financial commitment and administrative burdens involved. There are a couple of options to consider. Lets take a look at a Simplified Employee Pension (SEP) and a Savings Incentive Match Plan for Employees (SIMPLE). SEPs offer easy implementation.
CPA Practice
MAY 4, 2025
Global pensions assets rose by 4.9% year on year in 2024, reaching a record $58.5 trillion, led by growth in the largest defined contribution (DC) markets, according to the latest Global Pension Assets Study from WTWs Thinking Ahead Institute.
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RogerRossmeisl
MAY 4, 2025
Your business can set up an educational assistance plan that can give each eligible employee up to $5,250 in annual federal-income-tax-free and federal-payroll-tax-free benefits. These tax-favored plans are called 127 plans after the tax code section that allows them. Plan basics 127 plans can cover the cost of almost anything that constitutes education, including graduate coursework.
RogerRossmeisl
MAY 4, 2025
Stock, mutual fund and ETF prices have bounced around lately. If you make what turns out to be an ill-fated investment in a taxable brokerage firm account, the good news is that you may be able to harvest a tax-saving capital loss by selling the loser security. However, for federal income tax purposes, the wash sale rule could disallow your hoped-for tax loss.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
RogerRossmeisl
MAY 4, 2025
Fraud schemes are always evolving. Once frauds are widely publicized and consumers and businesses learn to spot common scams, enterprising criminals change their tactics. So even if you were able to recognize the red flags of fraud a couple of years ago, you may be vulnerable to new or tweaked scams in 2025. For the health of your business, its essential to stay on top of fraud developments.
RogerRossmeisl
MAY 4, 2025
With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to earn some extra money, why not put them on the payroll? This move can help you save on family income and payroll taxes, making it a win-win situation for everyone! Here are three tax benefits. You can transfer business earnings Turn some of your high-taxed income into tax-free or low-taxed income by shifting some business earnings to a child as wages for service
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RogerRossmeisl
MAY 4, 2025
Once your 2024 tax return is in the hands of the IRS, you may be tempted to clear out file cabinets and delete digital folders. But before reaching for the shredder or delete button, remember that some paperwork still has two important purposes: Protecting you if the IRS comes calling for an audit, and Helping you prove the tax basis of assets youll sell in the future.
RogerRossmeisl
MAY 4, 2025
Annual fraud risk assessments can be very effective in finding obvious fraud threats and documenting internal controls that are in place to minimize them. However, these assessments can overlook evolving and behavioral risks that could cause significant financial losses if bad actors exploit them. You can help boost the power of your risk-reduction program by actively looking for potential blind spots.
RogerRossmeisl
MAY 4, 2025
Whether your company is a family-run operation, a partnership among friends or a multi-owner enterprise, a buy-sell agreement helps protect it in potentially disruptive what if scenarios, including death, disability, divorce, disputes or simply a change of heart. These events may trigger ownership transitions that, without proper planning, lead to costly conflicts and financial strain.
RogerRossmeisl
MAY 4, 2025
If you inherit assets after a loved one passes away, they often arrive with a valuable but frequently misunderstood tax benefit called the step-up in basis. Below is an overview of how the rule works and what planning might need to be done. What basis means First, lets look at a couple definitions. Basis is generally what the owner paid for an asset, adjusted for improvements, depreciation, return of capital, etc.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
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